Adani Power opts for arbitration to settle payment dispute with Bangladesh

Adani Power said on Monday it has opted for an international arbitration process to resolve disputes over Bangladesh’s power supply payments.

The company led by Indian billionaire Gautam Adani has been at loggerheads with Bangladesh Power Development Board over pending payments for the electricity it supplies as part of a pact that both sides had signed in 2017.

“There are disagreements in the way certain cost elements are calculated and billed. Hence, both partners have agreed to invoke the dispute resolution process and are confident of a quick, smooth and mutually beneficial resolution,” an Adani Group spokesperson said in a statement.